Audit delay at BluMetric pushes company past filing deadline

Ottawa-based water-treatment firm BluMetric Environmental (TSXV: BLM) will not be filing its audited financial statements on time, the company said Tuesday.

(Stock image)

The company made the announcement on the same day as the company’s legal deadline to file its audited financials, along with management discussion and analysis documents, for the 13 months that ended Sept. 30, 2013.

“The delay in the filings has resulted from a larger-than-expected audit scope due to the reverse-takeover completed by the company in November 2012, along with longer-than-anticipated timelines,” the company said in a press release.

BluMetric is now saying it expects to file the documents by Feb. 4.

The company has applied for a management cease trade order from securities regulators in an effort to avoid a general cease trade order.

The company also said that its directors and officers have voluntarily agreed not to trade any of BluMetric’s stock during the delay.